Bessent warns that Federal Reserve investigations may impact financial markets

According to AXIOS, U.S. Treasury Secretary Bessent informed Trump on Sunday night that the federal investigation into Federal Reserve Chairman Powell could have an adverse impact on financial markets, describing the investigation as "a mess." Sources revealed that U.S. Attorney Jeanine Pirro's Washington office initiated the investigation without prior notification to the Treasury Department, senior White House officials, or the main Department of Justice. Bessent believes that Powell has taken a tougher stance and may not resign when the President appoints a new Federal Reserve Chairman. Bessent did not question the necessity of the investigation, nor did he defend Powell.